Values

146
Group Financial Statements
Notes
Transactions with related parties primarily relate to the provision
of goods and services and other fi nancial assets. Th ese
were conducted on arm’s-length terms. Th e resulting income
and expenses are of minor importance to the Group.
Compensation of the members of the Supervisory Board for
2009 amounted to €1,320,000 plus value-added tax. Total compensation
of the Executive Board in the year under review was
€10,883,530, of which €5,099,277 related to Bertelsmann AG.
31 Events after the Reporting Date
In February 2010, M6, the RTL Group’s French subsidiary, exercised
its right to sell 5.1 percent of its interest in the French
pay-TV station Canal Plus to Vivendi SA for €384 million.
On February 2, 2010, Bertelsmann AG asked holders of
2001 profi t participation certifi cates to submit sales proposals
at a rate of 180 percent. Upon expiration of the off er period
on February 22, 2010, the company received an off er to buy
2001 profi t participation certifi cates with a nominal amount of
€214.3 million and thus around 43 percent of the outstanding
volume. Bertelsmann fully accepted the sale off ers on
February 23, 2010. Th e maximum buyback amount of a previous
nominal €150 million was thus increased to a nominal amount of
€214.3 million in line with the off er conditions. Th e total pur-
Former members of the Executive Board and their surviving
dependents received compensation of €4,312,862 including
€3,962,437 from Bertelsmann AG.
Th e provision for pension obligations to former members
of the Executive Board accrued at Bertelsmann AG amounts to
€43,809,195. Th e members of the Executive Board and Supervisory
Board are listed on pages 158 ff .
chase price is thus €385.7 million. Th e purpose of this initiative
is to simplify the capital structure, since the profi t participation
certifi cate has lost its original function as an equity instrument.
Irrespective of the outcome of the public off er, Bertelsmann AG
reserves the right to buy back other outstanding profi t participation
certifi cates on the market at a later time.
In February 2010, Bertelsmann AG’s Italian subsidiary
Società Holding Industriale di Grafi ca S.p.A. agreed, in a
preliminary contract with the Italian publishing company
Arnoldo Mondadori Editore S.p.A., to sell its 50 percent
interest in Mondolibri S.p.A. Mondadori already holds
50 percent of Mondolibri in the joint venture with Direct Group
Bertelsmann.
Bertelsmann Annual Report 2009